The grey economy in the country is estimated at around 30 percent of gross domestic product, meaning that nearly every third economic activity is not fully reported, stated Gabriela Kulebanova, President of the Center for Micro, Small and Medium-Sized Enterprises at the Economic Chamber of North Macedonia, during a meeting of the Tax Compliance Council held at the contact center of the Public Revenue Office (PRO).

Kulebanova emphasized that systemic measures are required to reduce the informal economy, including the adoption of a new Law on Trade and a new Law on Markets, aimed at modernizing the regulatory framework and adapting it to contemporary economic developments and the increasing digitalization of trade.

In her presentation, she also highlighted the need for changes to the customs system for group shipments declared by weight, in order to reduce the potential for abuse and ensure fairer conditions for companies that operate legally.

The meeting underlined that the fight against the grey economy requires a coordinated approach involving institutions, the business community, and citizens, as well as a combination of regulatory reforms, digital tools, and incentives for the formalization of economic activities.

Among the proposed measures are linking institutional databases, establishing a specialized unit within the Public Revenue Office to monitor online sales, and reducing the regulatory burden on small businesses.

Participants assessed that without a joint and coordinated commitment from all stakeholders, measures aimed at reducing the informal economy are unlikely to deliver long-term results.